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7 Apps that Make Tax Season Simple

Write off your workshop

7 Apps that Make Tax Season Simple

Tax season is around the corner and can add some unneeded stress into your life. You want to write off as many tools in your workshop and expenses from the past 12 months as possible – but this usually comes with a whirlwind of paperwork. Finding and utilising the correct tools to get the right return on your investments is sometimes half (if not most of) the battle. The following applications for your mobile device can significantly help your tax season experience.


FreshBooks

This app is a ‘go-to’ choice at tax time for handling large amounts of admin tasks. It gives users the ability to create and store professional invoices. Expenses can then be paired with the invoices you create, allowing you to easily track and organise expenses while attributing them to a particular job. When tax time comes, this makes it simple to submit your claims.

Etax app

Boost your tax refund by keeping track of your day-to-day expenses, tax receipts and notes for unique expenditures. You can even take photos and save receipts to your online return. All in one place, this streamlines the tax return process and organises your claims.

Debtor Daddy

Let’s be honest, the name is a little dodgy. Luckily this app offers a service useful enough that we can look past it. No one likes chasing clients up for outstanding invoices; trying to finalise your accounts receivable for the end of financial year can be a nightmare. Debtor Daddy is an automated receivables management app that tracks overdue invoices and issues automated reminders on your behalf. This means more money coming in (and less awkward follow-up calls).

Expensify

For businesses that have trouble tracking expenses or tradies who often have to travel for work, Expensify makes it stress-free to track your spending. Link your credit card to the app or take pictures of your receipts and upload them. Expensify will extract the relevant information and organise it for you.

VehicleLog

For just $13.99, this application is a comprehensive tracker of the kilometres you put on your vehicle while on the road for work. The app is ATO compliant and allows you to digitally claim your travel expenses. Input odometer readings, scan receipts for petrol and other costs (you can do this manually or through your GPS), and use the application for multiple vehicles.

Tradify

Let’s face it, tradies are famous for many things, but being organised might not always be one of them. Tradify is an easy to use, custom-built platform to help tradies manage their workflow, quoting, material expenses and invoicing. Tracking and organising your expenses and invoices throughout the year makes them easier to find and use at tax time.

Squirrel Street

Formerly known as Shoeboxed, Squirrel Street is pricy for individuals but a worthy investment for small or medium sized business owners during Tax Season. Write off a variety of items for your business by sending in your receipts to Squirrel Street. They will then verify, extract, and categorise each receipt. This saves business owners time on data entry and the submission process.

MyTax (by the Australian Tax Office)

Finally, for the organised tradie who is truly DIY in all respects, MyTax allows you to lodge your tax return yourself from your desktop, smartphone or tablet (no app download required).

There are a variety of free and paid apps designed specifically to help sole-traders, tradies and small businesses organise themselves for tax time. Explore our suggestions and test out some others to find the right digital tools for your business needs.



Disclaimer
The information in this blog is general information only and should not be taken as constituting professional advice from the website owner, kincrome.com.au. Kincrome is not a financial adviser. You should consider seeking independent legal, financial, taxation or other advice to check how the blog information relates to your unique circumstances. Kincrome is not liable for any loss caused, whether due to negligence or otherwise arising from the use of, or reliance on, the information provided directly or indirectly, by use of the contents of this blog.